Avoid signing-up for the various credit card offerings you receive in the mail, as well as from the department store or mall clerks who want you to sign up for store discount cards. Remember to only apply for credit that you really need, and can afford to pay. For example, while a home mortgage is an essential expense, an expensive weekend boating trip, or a costly car accessory is surely not a sound expense. Try to do a cluster of loan inquiries within a proper period of time, like one every two weeks, so that your credit score remains strong, and won't have to suffer major drops in credibility with lenders. According to credit experts, a credit score of 300 to 580 indicates that you'll only get approved for loans which offer very high interest rates. If you have been making on-time payments to suppliers and creditors, this should be fully reflected in your profile. Company Profile When evaluating your company profile, verify the details for accuracy, such as business name and length of doing business, address, telephone number and industry type. As most of the data here is self-reported, the business owner must always make sure that the data filled in is accurate and updated. Creditors are in business because they earn a profit from their lending services, and if you don t pay your debts, the creditor will also feel the pinch, and his bottom line gets hurt as well. It would be better if you sit down and negotiate with your creditors, since most of them are willing to understand your difficult financial condition, and may be more than willing to offer an easy way out of your financial mess. 5 Ways To Build Your Credit Score Whenever you wish to get a loan, you need to know something about your credit score. A credit score is a number that creditors look at to determine your viability to get credit. A bad credit score can keep you from financing your kid's education, or from buying a new home. By incurring a number of missed payments and late payments, your credit scores will certainly fall back hard. The habit of continually missing on payments, or making late payments, gives your creditors an indication that you may do the same in the future, and so this greatly reduces your chances of availing loans from creditors in the future.